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Pound Under Pressure as Yen Stabilizes: GBPJPY Bears Target 208 as Key EMAs Hold Resistance 
- Major resistance - 16985 (11 May High)
- Major support - 16350 (100 day 4H MA)
- Nikkei index has slightly recovered after making a low of 16409 at the time of writing. It is currently trading around 16562.
- Short term trend is slightly bearish as long as resistance 17000 holds.
- The index major resistance is around 17000 and any break above will take the index to next level 17300/17525.The minor resistance is at 16800.
- On the lower side major support is around 16350 (100 day 4H MA) and break below targets till 16200/16000/15800 in short term.
- Short term trend reversal can be seen only below 15000.
It is good to sell on rallies around 16750 with SL around 17000 for the TP of 16355/16200
